Overview

CAMCE provides $40 million supplier's credit for agricultural machinery

Commitments (Constant USD, 2023)$84,149,452

Commitment Year•2004Country of Activity•VenezuelaDirect Recipient Country of Incorporation•VenezuelaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2004

Start (actual): Apr 27, 2004

End (actual): Apr 27, 2004

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned companies

China CAMC Engineering Co., Ltd. (CAMCE)

Receiving agencies

Government Agencies

Government of Venezuela

Implementing agencies

Government Agencies

Fondo de Desarrollo Agropecuario, Pesquero, Forestal y Afines (FONDAFA)

State-owned companies

China CAMC Engineering Co., Ltd. (CAMCE)
Pétroleos de Venezuela S.A. (PDVSA)

Loan description

CAMCE provides $40 million supplier's credit for agricultural machinery

Interest rate (t₀)•6%Interest type•Fixed Interest Rate

Narrative

Full Description

Project narrative

On December 28, 2004, CAMC Engineering Co. LTD (CAMCE) provided a $40 million supplier's credit to the Government of Venezuela for the acquisition of agricultural machinery. On April 27, 2004, CAMCE delivered 530 tractors and 340 sprinkler irrigation units to Venezuela.

Staff comments

Official mention of this Commercial Contract can be accessed in its entirety via https://www.dropbox.com/s/u2ibjxnn9vtunyc/305006409-Acuerdos-Con-China-2010.pdf?dl=00